Financial control is the process through which a firm periodically compares its budget to :
<h3>What is meant by financial control?</h3>
The methods, procedures, and techniques used by an organization to monitor and manage the use, allocation, and direction of its financial resources are known as financial controls. Any organization's resource management and operational effectiveness are fundamentally dependent on its financial controls.
Financial controls are laws and practices intended to stop or catch fraud and accounting irregularities. Financial controls include things like double-counting cash deposits and account reconciliation.
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Financial control is a process through which a firm periodically compares its budget to which of the following? (Select all that apply)
Multiple select question.
(A) stock price
(B) revenues
(C) expenses
(D) market share
(E) costs
Answer:
The Correct Answer is B.
Sales tax.
Explanation:
Sales tax is the Tax imposed by the government body during the sale of the goods and services at a retail level.
While payroll tax is the tax which is imposed on the salary of the employees and this tax is imposed by the employer. payroll taxes are directly deducted from the salaries of the employees and directly paid to the internal revenue services by the employer.
E. Objectional plan is the answer
Answer:
$874.50
Explanation:
Calculation to determine the cost recovery deduction for 2020
2020 cost recovery deduction = $10,000 × 17.49% × ½
2020 cost recovery deduction = $874.50
Therefore the cost recovery deduction for 2020 is $874.50
